AI for military use projected to reach a value of $13.71 billion by 2028, study saysNews
April 14, 2022
WASHINGTON. Artificial intelligence (AI) used in military applications, valued at $6.62 billion in 2021, is projected to reach a value of $13.71 billion by 2028, a combined annual growth rate (CAGR) of 12.9% over the forecast period, according to a study from Vantage Market Research, "Artificial Intelligence In Military Market."
The factors fueling the growth of AI used in the miltary market over the next several years include enhanced development of AI-integrated systems, the increasing adoption of cloud-based high-performance computers and applications, an increase in major countries' defense funding in the area of AI capabilities, and the appearance of specialized AI chips in the military market.
According to the study authors, one of the most important factors driving AI in the military in the years to come is that companies are exploring cost-effective and innovative hardware solutions that can efficiently improve the performance of AI systems.
For additional information visit the Vantage Market Research website.